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Recession Fears Settle In as Outlook Dims in Japan

By

John Murphy and

Hiroko Tabuchi

Updated Oct. 29, 2008 12:01 a.m. ET

TOKYO -- The crisis hitting Japan is proving particularly painful for an economy that was supposed to be relatively immune.

Two major corporations, Honda Motor Co. and Panasonic Corp., Tuesday reported drops in profit and bleak outlooks for the months ahead. Even Nomura Holdings Inc., which emerged as a global player by snapping up parts of Lehman Brothers Holdings Inc.'s Asia and Europe operations last month, announced a big net loss...